Anchorage Capital Advisors has expanded its collateralised loan obligation (CLO) platform through the acquisition of 11 vehicles from Orix Advisers.

New York-based investment firm Anchorage has acquired 11 US-based CLO contracts, which collectively represent $4.7bn (£3.6bn) in assets under management (AUM), from asset manager Orix.

The transaction builds out Anchorage’s existing CLO platform, which now consists of 60 vehicles holding approximately $26.1bn in collateral obligations across the US and Europe.

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“This transaction meaningfully expands the scale of our global CLO platform,” said Yale Baron, co-chief investment officer and co-managing partner of Anchorage. “With more than a decade of CLO management experience, Anchorage is well-positioned to actively manage these portfolios and deliver value to our investors.”

Anchorage’s affiliate, Anchorage Collateral Management, will serve as collateral manager for the vehicles, the firm said. Anchorage currently has $32.6bn of AUM overall across credit, special situations and illiquid investment markets in North America and Europe.

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“This transaction reflects the continued evolution of ORIX USA’s investment management strategy and our long-term emphasis on private markets,” said Jeff Abrams, group head of private credit and real estate, ORIX USA.

“We believe Anchorage’s established credit capabilities and CLO platform will provide a strong foundation for the continued management of these contracts, and we appreciate the collaboration of both teams in supporting an orderly transition.”

ORIX Advisers, a subsidiary of ORIX Corporation USA (ORIX USA), under the Signal Peak Capital Management brand.

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